tv Varney Company FOX Business May 31, 2018 9:00am-12:00pm EDT
maria: have a great day, thanks for joining us. varney & company begins right now. stuart, over to you. stuart: good morning, maria, and good morning, everyone. trump versus iger, game on. this is a fight. the president versus the disney chief. it started after robert iger fired roseanne barr. iger had not fired other abc people who had insulted the president and he offered no apology to the president either. now this morning, this from the presidential twitter account. iger, where is my call of apology, you and abc have offended millions of people and they are demanding a response, how is brian ross doing, he
tanked the market with abc lie, yet no apology, double standard, so, you know, it's right out there, isn't it, the media is content for the president and the president is clearly had enough. one editorial point of my own, if i may, how can robert iger fire rose anne barr. the president is right, robert iger is employing a double standard. well, there is other news. mike pompeo sits down with state dinner, kim-jong, top diplomat. they are talking summit. at this point still on on june 12th in singapore. warren buffet wanted to pour $2 billion into uber. buffet rarely touches technologies but evidently he sees it as transformative, revolutionary worldwide. uber has had bad pr but buffet's
interest is a shot in the arm. wait for it. varney & company is about to begin. ♪ ♪ stuart: breaking news for you. blake berman, what do you have? >> the president will levy tariffs against union canada and méxico, that announcement will be coming soon. this starts back in early march when the president had imposed steel and aluminum tariff. 10% for aluminum. this was nearly worldwide, exemptions were allowed for certain countries and in this case the european union as well to sort of delay that. there was a deadline by tonight to extend those exemptions and we are told as it relates to
european union, canada and méxico those exemptions will, indeed, come off, when you look at bigger trade picture here, there's a sizemanship from the administration just within the last 12 days or so, two sundays ago, the trade war was on hold. then the president says, he's interested in potential tariffs on auto import, then $50 billion in tariffs on china for ip theft and a few days later we are learning that the exemptions for steel and aluminum tariff for the eu, méxico and canada are set to come on, stuart. stuart: blake berman, thank you very much, indeed. in the last couple of minutes as announcement was looking possible, the futures markets slipped a little. we were slightly higher for the dow at the opening bell. now we are about 30 points lower and falling just a little bit there. how about the 10-year treasury yield. benchmark interest rate, 2.85%. how about the price of oil? very much in the news recently
and now it's heading south again went down to $67 a barrel as of this morning. next case, warren buffet, well, here is a surprise, he offered uber a 3 billion-dollar investment, well, the talks fell apart but come on in john layfield, what's the name of the company, layfield report, is that it? >> that is it, yes, sir. stuart: the prompter was fuzz there, i missed out. i'm very sorry, i apologize. buffet clearly recognizes uber as transformative company, i think that's a big deal for uber, what do you say? >> i agree with you completely. i saw what you said on maria, i agree with that sentiment as well. warren buffet had never invested in technology, he doesn't invest to what he doesn't know, similar to what peter lynch, he got into uber. that's a great validation of uber's model. uber pr has gotten possible. unions around the world,
self-driving cars, how they are meeting into that fleet, now electric bikes that they are trying to move into the 5 in new york city. this helps significantly. stuart: now i'm told they want to do an ipo, they wanting to public, they want to sell shares in uber at general public at some point in the future. i presume that if buffet is interested and prepare today put 3 billion into the company that's a very good signal for the ipo? >> absolutely. same as with softbank. softbank put one and a quarter billion dollars, 48 billion that helps significantly. you have someone like softbank n. the old days when i worked in wall street, only 2008, time is relative, if you have goldman sachs in a deal, the deal got done and that was it. nowadays if you get softbank or warren buffet in the deal, the deal gets done.
i think that helps significantly. stuart: you know, i was on wall street during crash of '87 back then you were wrestling champion, am i not correct? listen in, please. >> very good meetings, he's meeting again today, i believe they'll be coming down to washington on friday and a letter is going to be delivered to me from kim jong un so i look forward to seeing what's in the letter but it's very important to them so they'll be probably coming down to washington, d.c. on friday for the delivery of a letter. i look forward to that. other than that, the economy is good, stock market is up, a lot of jobs, best unemployment we've had in many, many decades actually and we are going to dallas, we are going to houston and we will have a little fun today, thank you very much.
[inaudible] >> i don't know. i don't know. but if you know, steve, let me know. i think it'll be very positive. the meetings have been very positive. we will see what happens. it's a process. it's all a process. we will see and hopefully we will have a meeting on the 12th that's going along very well but i want it to be meaningful. it doesn't mean it all gets done in one meeting, maybe you to have a second or third or maybe we will have none, but it's in good hands, that i can tell you. you know that actually. thank you. stuart: i wish i could have been there to ask him a question about bob iger and i'm afraid i'm here in new york, i couldn't do it. john layfield, i'm sorry i'm out of time, i had to make way for president, i apologize, we will bring you back at 9:30 when the market opens, mr. layfield, thank you very much, indeed. now the president, you just
heard him there, he was referring to a letter which he expects to receive, a letter from north korea spelling out details or some terms for the summit on june the 12th, the president has not seen the letter yet, he's going to see it later and that's what that conversation was really all about. now moving on the roseanne drama. white house press secretary sarah huckabee sanders calling out the media for apparent double standard when criticizing the president, roll that tape. >> the president's pointed hypocrisy and nobody addresses it. where was bob iger's apology for jamele hill calling him and anyone associated with him white supremacists, where was the apology for kathy griffin going on profane rant on the president on the view after photo showed her holding president trump's decapitated head?
stuart: on the note, they are going to show you this again, president trump's latest tweet on mr. iger, where is my call of apology, you and abc have offended millions of people and they are demanding a response, how is brian ross doing, he tanked the market with abc lie. brad blakeman is here. this is a fight, this is a knockdown drag-out fight between the president and the united states and the ceo of disney. how is it going? >> i think the president has the upper hand because i think the american people clearly see the double standard. you look no further than the view. i mean, the view is a punching bag for the president, slandering, liable every morning, the media beyond abc has got a lot to answer for to the american people. they get it, they see it. look no further to white house press corp dinner, they made
vile statements against sarah huckabee sanders. she's serving the american people. she's not elected to anything, yet, they do these vicious attacks. look, the president -- it doesn't tame him. stuart: it's not working, brad. i just don't think it's working with all of this -- all these attacks which are really vicious quite frankly, the president's approval rating is now at its highest level in more than a year and the latest poll that i saw real clear politics, the difference between generic poll, the democrats are losing ground. the republicans are now almost equal. so these attacks, my bottom line is, they ain't working. >> if anything it's helping because the american people are seeing results. they're seeing the economy, they're seeing foreign policy, they are seeing donald trump turn politics on its head in washington and beyond, so i think the more they attack him, the stronger he gets. stuart: brad, thanks for joining us. i do appreciate it.
i'm sorry for cutting rather short because we have so much news, you know how it is. brad blakeman, he's all right. thank you for joining us, sir. you have to check futures right before 9:00 o'clock eastern time, actually up a few points. now we are down about 70, why? because we've just heard that america will reimpose steel tariffs on méxico, canada and the european union and down it goes, we are off 90 points and trade is the reason. let's get to politics, more politics i should say, tensions rising between president trump and the attorney general, the president tweeting a quote from a former u.s. attorney who said jeff sessions recusal from the russia investigation was, quote, a betrayal, judge napolitano is on that later this hour. and hillary clinton speaking at harvard reveals which big company she would like to run. you will hear her answer after this.
stuart: general motors, their self-driving fleet gets 2 billion-dollar shot in the arm from japan's softbank, the fleet set to launch next year. stock sup. target and online marketplace shift, they are launching same-day delivery in illinois, ohio, wisconsin and michigan. target up. singapore airlines, the world's longest flight, okay, all right, how long is it? >> two weeks. [laughter] ashley: 18 hours and 45 minutes. fly from newark nonstop to singapore. they used to operate back in 2013 but they stopped it because it wasn't profitable, they are getting new upgraded long-distance aircraft and a-350 will make it more comfortable and more doable, currently the longest flight is dohar in qatar to new zealand which is 9,000-miles, this would be 9,537. stuart: if you're in seat 57d in
the middle of the back row, what would you be doing, ash? ashley: you won't be working that's for sure. you probably want to set your clothes on fire after 19 hours being stuck back there, good luck. stuart: exercises. ashley: a little bit of leg room because otherwise that's torture. stuart: i'm going move on. wal-mart announces program to help pay for workers college education, you know emac, the left helps wal-mart. liz: now wal-mart, they will pay for any costs after financial aid, tuition books and fees, workers have to pay one dollar. ashley: a day. liz: 3 universities are in the program, it's about business, but here what wal-mart is seeing, this is really smart, wal-mart is saying, we are noticing you invest in your workers, it is cheaper to do that because you keep them. watch this, cigna did it for
every dollar cigna invested inty wigs for workers, they saved a buck 29 because they stayed and moved up the career paths. we haven't heard from labor unions from wal-mart. labor unions are silent about wal-mart's push for pay for tuition for workers. stuart: quite a deal. now this one, a florida couple is seeing -- suing mcdonalds over two slices of cheese. so how much do they want and what's the problem? ashley: they don't want the cheese but they are having to pay for it as part of quarter pounder so they are suing for 5 million, two and a half million per slice. look, a lawyer says, look, i know you are going to love this, class action, but the lawyers say up to 25 million customers may have been overcharged paying for cheese that they didn't want and could be eligible to receive $10 and sandwich. these particular individuals,
two elderly men from south florida say every day we say no cheese and we get our sandwich with no cheese but we pay the full price. stuart: 5 million, please. i have no comment on that. suited for family television. more bad news for sears. they will close another 72 stores, quote, in the near future. sears stock is down 7%, that's dropped below $3 a share. we should have played the organ music for that. more varney after this. insurance that won't replace the full value of your new car? you're better off throwing your money right into the harbor. i'm gonna regret that. with new car replacement, if your brand new car gets totaled, liberty mutual will pay the entire value plus depreciation. liberty stands with you. liberty mutual insurance.
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stuart: breaking news, here we go. president trump just tweeted this, will be giving a full pardon to danesha susan today, treated unfairly by our government. what was he convicted of? liz: basically convicted of illegal contributions in the names of others by the obama administration, but they really went, major obama critic. stuart: the president will pardon him today. now the white house announcing they are imposing tariffs on european steel and aluminum plus steel from canada and méxico as well by the way, steve hill is with us, steve, looks to me and you can interpret this better that the president is going
right after angela merkel and the germans, he doesn't like porsche, bmw, luxury cars in america and apparently he told emmanuel macron he doesn't like this german stuff on american streets, so he's imposing steel tariffs, little convoluted but do we have a point here? >> we do have a point and as so many other things connect today donald trump, critics lose all perspective. you look at the whole issue of trade, the way it's sometimes presented is you have the fantastically trading system based on free trade and the rogue president who's assaulting free trade, in fact, it's not like that at all, the last time you had a proper negotiations of tariffs around the world that began in world trade talks in 2001 which subsequently collapse. you look at trade now between u.s. and e, the tariffs, the eu imposes on american goods
overall they are about twice as much as the tariff that is we impose on european goods and when you look specifically at car that is we mentioned. if you want to sell an american car in the u.s. they charge 10% tariffs, europeans cars sold here 2.5%. four times as high the tariff imposed by europe. so it's not exactly trump who is starting the trade war. stuart: i think he's having a guard at angela merkel, that's what i think. back doors. hillary clinton was asked which job she would pick for her dream job, listen to the answer, here we go. [laughter] >> if you could be a ceo of any company right now, what would you choose and why? >> facebook. [laughter] >> most people in our country get their news true or not from facebook. stuart: all right, steve full disclosure, i know that your wife works with facebook.
are you in a position to make any judgment on hillary clinton's decision that she would like to run facebook? >> i think i can confident i will say that facebook would say, you know, we have enough problems without inviting hillary clinton into our board room and management meetings. that's the last thing any company would want right now. stuart: i think you're right. we will be watching your show, steve hilton, good to see you again, thanks. >> good to see you. stuart: where is this market going to open, thursday morning, we have about 4 minutes to go, we will be down about 70 points. the negative here is the imposition of tariffs on imports of steel and aluminum from europe. that's not going down well with the market at this stage. back in a moment to open that market. stay with us. [music playing] (vo) from day one,
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stuart: well, this is going to be an interesting day. we will open market in 40 seconds. a lot to go at today. please bear in mind that we were up 300 points yesterday reaching 24,600. what's on the plate today? well, the imposition of tariffs on import of steel and aluminum from méxico, canada and the europeans. there's an extraordinary fight brewing here between disney's ceo robert iger and the
president of the united states. it's a twitter war and it broke out first thick this morning. what else we've got? warren buffet interested in uber. there's a story for you. 3 seconds, 3, 2, boom, we open the market thursday morning, where are we going? answer slightly lower. we are down 46, we are down 70. down 72. down 71. down 70. i see about 3 quarters of the dow 30 on the downside, we are now down 80 points. that's a loss of one-third of 1%. s&p, broader indicater, where is that at the opening market there, we are down about a quarter of 1%, not a serious loss there. the nasdaq home of the technology companies, that is down only a tinny tinny fraction, .09. that implies strength in the technology stocks this morning. key benchmark interest rates, the 10-year treasury yield
2.48%. look at netflix, eclipse in disney as the world's most valuable media company. that's by market value, netflix is 354 this morning, disney holding at 100. now look at microsoft, yes, i do own some shares there, another all-time high. worthy of trumpets. let's hear it, please. 99.20. by the way, microsoft is now worth more than google. the white house plan to go impose tariffs on steel and aluminum from europe and méxico and canada. that's part of the reason for the dow's decline. who is with me on thursday morning, elizabeth mcdonald, ashley webster, john layfield who i think is in bermuda right now and ben philip right here in new york city. [laughter] stuart: netflix, it's been on a tear, it's now surpassed disin terms of market value, john, would you buy netflix at 354, too expensive for you? >> too expensive. i think it's a great company.
i don't quite understand the valuation and the competition to me from amazon and appear toll me is too strong. i just bought disney yesterday, not necessarily because of the competition with netflix but because of what disney is doing. stuart: i want to look at microsoft close to 100 bucks a share this morning, spare neglect the trumpets, more valuable than google. ben, i'm listening to your answer carefully. ashley: watch out. stuart: is microsoft too expensive for you at $99 a share? >> i think it is. we are looking at tech companies and valuations and microsoft traded 19 times cash flow, the highest it's traded ever. we are looking at valuations, microsoft is great, they have a great business and enterprise offering for the cloud product and they are growing there and they are really well positioned but that's priced into the stock. stuart: what do you think you'll be doing at 9:30? >> logging into my pc. stuart: i do want to talk about the tariffs.
the president -- not the president but we are imposing steel and aluminum tariffs on european, mexican and canadian steel, that's what's pushing the market down 110 points as we speak at the moment. john, to you, will this downside move because of the imposition of tariffs last or is it a quick spurt to the downside and we will get over it? >> well, nothing lasts in politics right now so they say they will put tariffs and they give exemptions and now tariffs mainly on neighbors and trading partners. the politics portion lasts this is going to last. the best earning since 1990, this market should be roaring right now and instead we are trading on crazy capricious politicians not knowing what they're going to do next. that's not how you want to market the trade. self-sabotage. stuart: does it move last because of the tariffs, ben? >> we think trade is the biggest global issue that the markets
aren't fully pricing in. we are worried about trade. the market doesn't like uncertainty. if we see the trade war pick up, we think that's bad for risk asset and including stocks. stuart: aluminum and steel stocks are up, look at alcoa3 and a half percent. they benefit from the tariffs if they stay in place for long term. how about the financials, take a look at them, please. why we are looking at them because the fed wants to losen trading restrictions on big banks, it's not helping them this morning. they are all in downside. gm self-driving fleet gets 2 billion shot in the arm, the fleet by the way will launch next year. general motors way up, that's near 10% gain. how about that? that's a huge gain. general motors up nearly 10%. target and the online marketplace shipped, they will launch same-day delivery service in illinois, ohio, wisconsin and
michigan. target down 20 cents. price of oil this morning i believe it's way down, last time i checked it is still way down, down about a buck at 67 and the price of gasoline stopped rising, it's actually fallen a fraction in the last three days. good, indeed. 295 is national average and there are now 16 states plus the district of colombia where the average price per gallon is $3 or more. okay, fiat chrysler, this is a fascinating story. they are looking to expand jeep and shrink fiat. liz that seems to me they are getting rid of small cars. liz: yeah, they are, they will go big-ole luxurious, jeep is 7% of profit, ford got rid of small cars in north america. you wonder when gm was going to follow. sergio is retiring, this is exit plan and watch whether or not he talks about merging with another car company because that's on
the radar screen as well. stuart: okay. just getting rid of small cars. ashley: i don't know how you can shrink it anymore anyway. tinny. stuart: tesla, they fixed the break -- brake problem on model 3. ashley: consumers reports said that the braking distance was 7 feet longer than a ford f-150 pickup truck, they put in a fix to the software it's now improved the braking distance by 19 feet which is remarkable. liz: they did it software upgrade over wi-fi into parked tesla cars. they've done that 40 times in the last 6 years but never for braking systems and stunned the guys at consumer reports. i'm wonder if elon musk can do for your smart tv at home. ashley: makes me nervous about hackers. don't they worry about hackers? we report that every day. all of a sudden you have no braking distance because of some
hacker. stuart: john, you were always a texas bull, you are certainly a fan of elon musk, why the stock down when you have this kind of news about fixing over airways? >> it's all about production issues. i'm a huge fan of elon musk. he's been great at everything except producing cars which is an old-economy-type job. he's trying to change it to make it 21st century technology. he went through this with spacex as well, he went through model s and model e. i think he's going to make it. liz: fair point about producing cars, wow, people are blown away by elon musk and intelligence and the science fiction capabilities. again, consumer reports, nobody has ever seen a brake upgrade over the software, over the ether, never seen that before. stuart: an expreparation i have not heard over centuries.
liz: you can make fun of me. stuart: retail ice age, here we go. sears plans to close another 72 stores, sales still challenging as they say. the stock is down 9%, below 3 bucks a share. i guess the turnaround is not working. it's going to disappear, isn't it, ben? >> i think sears has been plagued with challenges feels like over a decade now, right, and i don't see turning the story around there. i would still be pretty cautious around sears. liz: longest running equity liquidation. be a commercial real estate on the parter and lease it and rent real estate back out. that's the final exit plan for him. stuart: more on retail, kohl's, been in the news, beefing up their toy section because toys"r"us is gone, is that a good strategy, john, as i recall
you like kohl's, didn't you, was that you? >> no it wasn't me. i was not a fan of anything that fights amazon. retail ice age continues, you look at sears, when the elephant starts walk to go bone yard, you may stop for drink of water but that's where you're headed. a lot of the retail stores are headed. amazon and wal-mart fighting together. ii would not fight anybody who s fighting those two. stuart: the elephant in the graveyard. well done, john. well done. netflix say that is productions coming from the obamas, signed into a deal, the productions will not have a political slant. liz: get out of here. stuart: skeptical, do you care? >> i don't really care frankly. when we look at policy investing, we are looking at content and time warner and at&t, that's how we are looking at netflix. liz: here is why you should not believe the story, netflix own
release announcing obama production that they will highlight issues and theme it is president pursued during 8 years in office. so netflix said that. how can it not be about politics and other issues? stuart: i think that signing the obamas was probably a good move for netflix on the grounds that they have a global audience and president obama is very popular. ashley: if you don't like that don't watch it. liz: binge-watch obama stuff, i don't know. stuart: 9:40, ladies and gentlemen, i have to see good-bye to ben and john, back to the beach, young man. we will see you very soon. [laughter] stuart: we are not at low of the day but we are down triple digits, right now the dow is up, 110 points, so we are back at 24,500. next secretary of interior, ryan zinke, he's on the show, we need border wall for environmental reasons, he's here on the set with us. i want to know about that, the environmental reasons for building a wall. we will be back. brighthouse financial
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stuart: we are still down, not triple digits, we are down 90 points. 24,971. top banker at jpmorgan, his name is jamie dimon, the highest paid banking executive in america, guess what he made last year, i will tell you, $28.3 million for jamie dimon at jpmorgan the stock is down 50 cents. back to politics. secretary interior ryan zinke says that we need a border wall for environmental reasons. he's going the make his case, he's sitting right next to me in new york city. >> great to be with you. stuart: the left is going crazy about this. what do you mean build a wall for the environment, make your case? >> welcome on down and take a
look at it. it's an environmental disaster. there's garbage, needles, habitat destruction, it's unat the timerred and we need to shut the border down for a number of reasons but environmentally, look at california. stuart: you want to build the wall because the immigrants are putting litter all over the place? >> well, federal lands, i'm in charge over federal lands, stewards of federal lands, we have california federal lands, illegal pot growers, chemicals, it's a mess and all of a sudden agents are down in southern border, you know what they have to look at needles, child trafficking, sex trafficking, drug trafficking, gun trafficking, this is a national security -- stuart: mr. secretary, forgive me but you have a smile on your face because you are coming any and all reasons to build the wal >> it is absolutely and you go down to the wall -- go down to the border and ask border patrol agents, what do you need, they need a wall, they need technology and they need people.
that's exactly the triad. it is absolutely imperative. stuart: this is your turf. the wall is your subject. >> it would be nice to go to park and wildlife refuge and not have to worry about needles or sex trafficking, destruction of habitat. stuart: okay. you still have the smile on your face. [laughter] >> the left, they have no policy arguments, they are emotional about it. i'm practical. i look at it, the president says do it, i look at theesources i have available and let's get it done, it's as simple as that. stuart: i have another reason why you have smile in your face. >> energy. stuart: we in america are going to produce probably this year 11 million-barrels of oil. >> absolutely. a day. 10.7 a day. there's no reason why we can't
produce over 11 million-barrels a day. if we have the infrastructure in place, my gosh, we can be at 14 million-barrels a day, never be held again hostage by anybody and control the board to a degree, imagine iran if we can subplant 3 million-barrels a day which i think the country can, that's a lot of leverage overseas with russia, with iran, this is unheard of in the history of this country. stuart: to build the infrastructure and you're really talking pipelines and refineries, i presume, pipeline -- >> export facilities. stuart: to do all of that, to get the money for all of that, the price of oil has to be 70, $80 a barrel to make it worthwhile to produce all of that oil. >> you know, there's companies right now that are making a profit at mid to low 30's, that's guy in the permian basis in west texas. >> we've gotten better and that's what is amazing about
american innovation. nobody does it better and cleaner than we do and all of a sudden you are regulatory framework that encourages innovation and technology because the regulatory framework which is a driver in the whole thing is best science, best practices, innovation do be more responsible, that's the regulatory framework that we are going at full speed. stuart: 10.7 million-barrels a day now, 11 million by the end of the year? >> absolutely. standby, i'm bullish on american energy, again, our innovative techniques in this country. hydraulic fracking, horizontal drilling and this is unprecedented in the power of american energy. we relit the pilot light of american energy. stuart: we have relit the pilot light of american energy. with i steal that?
>> you can. stuart: i shall. [laughter] stuart: ryan zinke, mr. secretary, thanks for joining us. thank you. let's go back to the white house, blake berman just finished up the call, the white house briefing call on tariffs. what do you have, blake? >> call with wilbur ross, two headlines coming out, stuart, first as we reported in program an hour ago, the u.s. will impose steel and aluminum tariffs on canada and méxico and european union, 25% tariffs for steel, 10% for aluminum, it was in march when this first came out but there were exemptions that were allowed to sort of delay, withhold those, the timeline or at least the drop-dead latest date was this evening at midnight for the next batch of exemptions to occur, that will no longer happen, so there will be tariffs, steel and aluminum for canada, méxico the european union and many closest partners. headline number one, the second headline, you're probably
wondering as it relates with méxico and canada. what does this have to do with nafta? the commerce secretary wilbur ross said a lot. one of the reasons they decided to go forward with the steel and aluminum tariffs on méxico and canada was because the talks on nafta just weren't progressing like they had hoped. a quote from him, he said there's no longer a precise date of when they, meaning the talks, may be concluded. so that is part of the reason as to why they went forward on this for méxico and canada. by the way, i asked, stuart, the commerce secretary if this was essentially a larger picture look of whether the president is getting what he wants, that being tariffs and wilbur ross told us that the president's overall objection is to lower the trade deficit. that continues to remain. stuart: thank you very much, indeed. following that, now look at the market, took a turn to the south right after this news broke that we are indeed imposing 25% tariffs on european steel, 10%
sessions, here is the tweet. recusal of jeff sessions was betrayal of the president of the united states, he's quoting former u.s. attorney. judge napolitano is here. jeff sessions should have told the president before he was a confirmed and appointed attorney general, i have to walk away from the russian thing but he didn't say anything. >> the president of the united states is entitled to attorney general in whom he has tremendous confidence, jfr-rfk relationship. richard nixon and john mitchell, mitchell went to jail. tremendous confidence, the president doesn't have that because of this. was the recusal proper, absolutely. in my view the recusal was required but it should have been accompanied by a resignation, you decide, mr. president, i recuse or resign or he should have said, i think this russian thing is bologna, you know it's bologna but it's going to be -- the justice department is preoccupied by it.
i'm going to be a witness, i can't be the attorney general. stuart: why doesn't he fire him? >> i don't know. you're asking the wrong person. i wish you could ask the president. i wish i had chosen another lawyer, that is about as devastating as i want you to resign as can be. new york times reported that jeff sessions resigned twice, the president refused across both betters and sent them back to the justice department. stuart: we don't know why he's not fired. president trump just tweeted will be giving a full pardon to danesh dsouza, conservative. >> yes. stuart: convicted of what? >> convicted of campaign finance violation by donating too much money to a failed conservative republican campaign. the reason the president says he's treated unfairly, the president is quite correct on this, historically this has not been treated as criminal prosecution, you
overcontributed, the campaign kicks the money back and you get fined. we don't put you in jail. he was prosecuted aggressively for this. now full disclosure, he's been a friend of mine for 40 years. he's a brilliant scholar and analyst of the cultural united states and all of his analyses right at the face of obama administration that prosecuted him. the president has done marvelous act of justice, not mercy, justice in this case. most pardons are merciful, this is just. stuart: well said, young man, thank you very much, indeed. we will see you later on the show. yet again trump-hating bias is on full display. their contempt the president was clear right from day one. my take on that is next.
and that's how he intended to keep it. then he met the love of his life. who came with a three foot, two inch bonus. for this new stepdad, it's promising to care for his daughter as if she's his own. every way we look out for those we love is an act of mutuality. we can help with the financial ones. learn more or find an advisor at massmutual.com stuart: in the last 24 hours the media's contempt for president trump has been on full display. whether you like the president
or not, there is no excuse for this. the media is biased to a degree we've never seen before. how could espn rehire the hate monger, keith olbermann? he has a foul mouth and called the president a nazi among other things but he's back, he is working for bob iger, the head of disney who just fired roseanne barr because of hess racist tweet. disney display as double standard here. same with espn anchor who called our president a white supremacist. she works for disney and iger, but she wasn't fired. nor did she apologize to the president who she had so grossly insulted. when the president signed the "right to try" bill into law yesterday, the media largely turned away. that is absurd. it is important legislation, offering some hope to many people with no hope. but you see, it's a positive story for the trump administration. that's why most of the media ignored it. it is not just how they covered the news, it is what they
considered to be news worth presenting to you. remember the president's speech in tennessee tuesday night? it was a big, enthusiastic crowd. "the new york times" did not see it that way. they reported just 1000 people were there. totally factually wrong. it was packed. the crowd was more than 5,000 strong. this last one, this is anecdotal, john, i don't know how to pronounce his name, he is a conservative who frequently appears on cnn, msnbc, and npr. in today's "wall street journal" he describes the liberals who appear with him on these left-leaning networks. they all believed the election of donald trump was a catastrophe. that it is their job to get him out of office any way they can, and, they all believe he is mentally ill. that is in a nutshell how some in the media see and treat president trump. there is nothing new here. their contempt has been evident
since mr. trump declared his candidacy and it is not going away. it is too deeply ingrained but it is not working. trump's approval rating is at the best level in more than a year, and republicans have almost caught up with democrats in generic congressional polls. rarely has the reputation of any institution fallen so far and so fast as that of america's media. the second hour of "varney & company" is about to begin. ♪ stuart: right. thursday at 10:00 eastern time. that means we have the latest on mortgage rates. ashley: i look forward to it every week, you know that. and i do. freddie mac, 30-year fixed-rate down to 4.56%. that is down 10 basis points from last week. why? the geopolitical concerns and headlines, trade issues. a lot of money going into
treasury. yield comes down. so your mortgage gets cheaper. by the way mortgage applications continue to rise year-over-year. consumer confidence is high. so you know, i know we're into the 4 1/2% range, but mortgage applications are on the way up. stuart: 4.56 on the 30-year fixed-rate loan. ash, thank you very much. big tech names. check them please. let's report, we're down 133. that is the dow industrials. 33 minutes into the trading day. now the big techs. look at microsoft. it has hit another all-time high. right now it is at 99.49. facebook is up, amazon is up. only one that is down is apple. dollar tree and dollar general, we're talking retail now, sales fell short at both of them, look at them take it on the chin. my goodness me. dollar tree is down 12%. dollar general is down 7%. those are big declines.
still on retail, look at sears. justified playing organ music. they will close another 72 stores. same-store sales fell dramatically, down a full 12%. the stock is down 10%. where is the price of oil this morning? it's a big factor on the market recently. $67 per barrel as we speak. breaking this morning, president trump will impose tariffs on steel and aluminum imports from the european union and those coming in from canada and mexico. keith fitz-gerald is with us, money map press chief investment strategist. the market, keith, right now, is down 130 odd points. i think because of these tariffs on the europeans and the canadians and mexico. how long will this downside move last? >> you know, stuart, that's a good observation and accurate observation. i think it will last as long as traders feel uncertain about the president's intentions. he is simply shooting off his
mouth. again he has good intentions, the execution i have on this is what i have a problem with. you can use quotas, could let traders have certainty which they don't. stuart: do these tariffs have that big of an impact on our economy? i mean do they really? do they have sufficient impact to take the dow industrials down half percentage point, knock a few tens of billions of dollars off our market value? >> yes they do. let me give you an example as to why. for example he is talking about cars, steel, aluminum, 56% of the cars in the united states are made here. 56% sold are made here but what comes in, we have tremendously complicated supply chains, all of which feed come response, subcomponents, using metals, all kinds of materials from the eu, from mexico, from canada. so yes, they have a material impact on suppliers. stuart: all those negotiations going backwards and forwards, if they end up america getting
better trade deal with nafta, china, europeans, i take it the market reversals would be themselves reversed and the market goes up? >> absolutely. traders would have certainty and the conviction needed to put their money to work. stuart: tell us which american company to be the first valued at trillion dollars? apple needs to hit $203.45 a share f it does it's worth a trillion. microsoft has to get to $130 a share. if it does, it is worth a trillion. which of them is first do you think? >> i am still going to stick with microsoft. the cloud business is great. recurring revenue from office 365, those are two winners. i think revenues jump significantly. that is my horse. stuart: any timeframe on that, please? >> that's hard to say because geopolitical events are complicating the magic eight ball so to speak. six months on the outside we could see it very easily. stuart: wow, there is prediction for you, we'll take it.
apple $203 from keith fitz. you are released. thank you for joining us, sir. appreciate it. good stuff. back to my editorial at the top of the hour the double standard in the media, their contempt, abject contempt for the president. sarah huckabee sanders called them out at the white house press briefing. listen to this. >> the president's pointed to the hypocrisy in the media saying that the most horrible things about this president and nobody addresses it. where was the apology from bob iger for espn hiring keith olbermann after his numerous expletive laced tweets attack the president as a nazi, even expanding olbermann's role after that attack against the president's family. this is double standard that the president is speaking about. stuart: by the way it went on from there. karl rove with us, fox news contributor. karl, i have never seen anything like this before, this extraordinary hostility and contempt for the president. have you seen anything like this in all your years in politics? >> well, we've seen it in
different versions. it is over the top today but if you're a center-right president you tend to be opposed by the center-left media and biases show up in choice of stories what they cover and what they don't cover and sometimes in their language. now is it worse dan that it as been in the past? at times it is clearly worse but there is always been a sort of a bias there against a center-right political leadership by center-left media. stuart: it is universal, karl, with a few exceptions, media over all is truly vicious. some of the things they're saying and getting away with are just vicious. i have never seen that before. our president called a white supremacist and so-called journalist who says it, she doesn't get fired. >> but i'm not certain they get away without consequences. referring to jemele hill of espn. espn is suffering i think because they have gotten, they have lost their focus on providing sports and instead
adding political commentary to it. they have been, you know, increasingly struggling. they have been not as profitable as they used to be. their viewership is down. they're in decline. the question is whether olbermann and hill will make that worse or turn it around. i don't think they will turn it around. there is a price to be paid by this kind of coverage and we're seeing it in espn's viewership. stuart: do you think it is possible that the democrats are paying a price for this too? because, this contempt for the president, it is just not working. i think there is reaction against it. i notice that the democrats are now barely ahead of republicans in a generic congressional poll. i see the president's approval rating actually going up to the best level in about a year. >> yeah. now, let's put those in perfect perfect -- perspective. i think part of the generic ballot is closing the democrats don't appear to have agenda. they are so enraged and resistance is so strong, message
at the grassroots level is so over the top as we go through the primaries, each democrat in a primary tries to outleft-wing by the other. we'll see if that remains the case by the fall. if they are smart they will talk about what they will do for the american people and tone down what they say about up interest. my sense the leadership of democrats understand this is hurting them but generic ballot is getting better. you're right the president's approval rating is getting higher. it is still not particularly good. it is get together place where he will not be a huge drag on the republican ticket this fall. why? because he is getting things done. if you notice his approval rating began to rise when we got the tax cut passed and people began to understand what it was. he began to do things appearing to be moving situation in right direction with regard to iran and north korea. there is a lesson there, he is not moving up because he is doing a good job placerring the other side. he is moving up because he appears to be good job as president. i hope white house stays focused
on that. >> got it. karl rove. a pleasure. >> incidentally, a john braebinder. good friend of mine. i know him for many years. stuart: i apologize to him for mispronouncing his name. thank you, karl. >> thank you. stuart: see gm's stock? general motors up 10%. the best day since 2010. this after softbank, japanese operation, says it will invest a couple billion dollars in gm's self-driving car unit. two billion, is it. liz: future of the car industry, 2.25 billion. gm plows another billion. 3 billion. this is partnership between a tech investment shop and carmaker. value of this unit at gm, 11 half billion. what is going on? gm ceo, mary barra, this is the future of car driving, zero crashes, zero emissions.
dedicated highway lanes for the robot cars. modeling after the chevy bolt. expected to introduce robot fleet, robot car fleet next year. stuart: she sunk the future of general motors into self-driving cars and market likes it. liz: market likes it. stuart: stock is up 10%. liz: only mass production factory to do it. stuart: there you go. big hour coming up for you. political chaos in italy. i say the italian populist are talking absolute economic nonsense. my knowledge gel farage, he is a fan of the populists. see what he thinks about italian populists and what they're saying. the media can not hide contempt for the president. nbc's chris hayes, significant part of trump voters are racists. like roseanne. we're on it. nbc forced to correct the size of the crowd. congressman blackburn joins us later this hour.
baseball star, johnny damon was at the white house yesterday. president had a sports and fitness day. he is a trump supporter. he is with us. and he is next. you're watching the second hour of "varney & company". ♪ [music playing] (vo) from day one, we always came through for our customers. it's how we earned your trust. until... we lost it. today, we're renewing our commitment to you. fixing what went wrong. and ending product sales goals for branch bankers. so we can focus on your satisfaction. it's a new day at wells fargo. but it's a lot like our first day. wells fargo. established 1852. re-established 2018.
stuart: we are close to the low of the day i have to tell you. we're down 163 points, just above 24,500. now there is a new report in the "wall street journal" and it says nfl owners considered president trump's stance when they voted for the new anthem policy. let's bring in our next guest who is a trump supporter. he was at the white house yesterday for a sports and fitness event. johnny damon with us, former major league baseball player, occasional guest on this program, former player with the
yankees and red sox. sir, welcome back to the show. great to see you again. >> great to be here. stuart: right from the get-go, how do you feel about athletes demonstrating their political beliefs on the field? >> well, if we're talking about kneeling for the flag, i am not a fan of it. my dad served the country. i feel like that was the wrong message. and hopefully, you know, we can all come together and figure this out. you're making a lot of money in america. i believe you should stand for the flag. i think you should represent the flag, and i was taking a walk around washington, d.c., a couple days ago and the joy that people had on memorial day, i mean it brought tears to my eyes. i mean, there was so much appreciation for what our veterans did for us, that i feel like it's a very disrespect to the people to served four our country, who died for our country. so i think everybody should
stand. i feel like tuesday should be the day you go and work in the communities, get the kids outside, talk to people about social injustice of our country. i think that's a better platform but not on sundays and mondays. i don't think that is the right place to do it. stuart: okay. i think you summed it up pretty well there, sir. i have another big picture question for you. as you know, sir, the supreme court recently legalized sports betting, what do you think of sports betting on a mass scale? what do you think? >> well, i'm not against sports betting but i'm afraid where it could turn out, or where it can go because i would like it to stay away from the athletes and i don't want it to get to the lower levels. i do not want it to get to the high school players where they have to hear about, yeah, put a bet on you, i lost. that is a lot of pressure on
people. i'm okay with betting as long as it stays away from the athletes and, obviously there has got to be laws and rules with everything but you know, it is okay to, you know, take the patriots in the super bowl this year. stuart: wait a minute. you're on dangerous ground, johnny. i'm not sure about the super bowl this year or the patriots but you like them? you're for the patriots this year? are you going -- so far in this interview you've become very popular. are you going to blow it by supporting the patriots? >> i'm going to be very unpopular. i'm a cowboys fan. stuart: oh. >> i hope they can win the super bowl but the patriots are there every single year, that is a great way to go. stuart: you're an honest man, johnny damon. very honest guy. next question, you played for both the red sox and the yankees, which is kind of unusual. so who do you like this year, yankees or red sox?
>> man, that's a tough question. i love the yankees offense. i like the red sox pitching better right now but it is going to get back to the 2003, 2004 rivalry. those two, i'm expecting those two teams to battle it out in the alcs. whoever is the hottette team at the time. baseball is a funny sport. you don't necessarily have to be the best team on the field at time but you can still win. so those two teams are the ones i'm counting on. they have superstar players. stuart: come on. i will bail you out, shall i? because you didn't answer the question. >> come on. let's not do this. stuart: i'm going to press the question. who do you like, yankees or red sox? >> i like home runs. so and, you know, i spend a lot of time in new york. so i will say the yankees but, you know, it's a flip of the
coin. stuart: okay. good answer. you're a diplomat. last one, are you happy in retirement? >> oh, i love it. getting ready to go play some golf right after this interview. raising eight beautiful kids. dasha turned six years old. we have big day at pool. stuart: eight kids? >> eight kids. stuart: you have more than me. you have eight, but i have nine grandchildren. i beat you heads down. >> oh, wow. that time can wait. stuart: johnny damon, always a pleasure having you on the show. please come back to see us again soon, sir. appreciate it. >> will do. stuart: got it, johnny. thank you. what is coming up? world cup. that is what is coming up. alexi lalas, he is fox soccer commentator, former player, going to the world cup, working for fox at the world cup. he will have a tough fight there, u.s. and italy, those two
teams are not in the world cup. we'll be allowed to talk soccer you and i. how about that. ashley: about time. stuart: lalasa later this hour coming up. ♪ i got scar tissue there. same thing with any dent or dings on this truck. they all got a story about what happened to 'em. i could feel the barb wire was just digging into the paint. two bulls were fighting, hit the truck. another ding, another scratch, another chapter in the story.
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stuart: tesla, a software update, that is all it took. that fixed the brake problem on the tesla model 3, and after that software fix "consumer reports" now recommends the model 3. by the way tesla graduated the first class of technicians to service the cars. hillary vaughn joins us now. hillary, those are not mechanics like we know them, are they? reporter: not at all, stuart. these techs in training are learning less about how a car engine works and more about computer technology because as you mentioned, a lot of these
repairs happen actually online. a driver doesn't even need to bring the car into the shop in order to get it fixed in a lot of instances. these students are troubleshooting inside of tesla's network, instead of getting their hands dirt. they study battery architecture, charging technology and become affluent in tesla software. students say hands on training is a little intimidating because they're working with 400-volts of electricity from tesla batteries. >> how to handle voltage at the high rates, and how to repair them other than changing spark plugs and things like that. we're dealing with computerized things. they have to learn the computer school to actually fix the car. reporter: a few classes so far have graduated. as tesla tries to meet demand for 400,000 drivers still waiting to hit the road in tesla model 3s, tesla will need a lot more high heck hand to fix them, stuart. stuart: hillary, thank you very much indeed.
come short to breaking news. i have news on those tariffs. mexico says it is ready to impose retaliatory tariffs in response to our tariffs on steel coming in, steel and aluminum coming in from mexico. the result of that development, the market is headed further south. now we're down 186. the more "varney" after this. hi, i'm bob harper, and i recently had a heart attack. it changed my life. but i'm a survivor. after my heart attack, my doctor prescribed brilinta. it's for people who have been hospitalized for a heart attack. brilinta is taken with a low-dose aspirin. no more than 100 milligrams
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we'll get to that in a moment. big tech names, how are they standing up? pretty good actually. only apple is down. facebook, amazon, microsoft, are to the upside. look at deutsche bank. the federal reserve says that the bank's u.s. business is in a troubled condition and it is down another 7%. deutsche bank in real trouble these days. news on those tariffs. here we go. mexico says it is ready to impose retaliatory tariffs in response to our tariffs which we'll place on mexican steel and aluminum. nigel farage with us, european parliament member and fox news contributor. you know, nigel, i believe that the eu and the uk are also ready to impose retaliatory tariffs. nine gel, this -- nigel, this is starting to look like a trade war. what do you say. >> it is starting to see. we trade as part of the european
union. so hurry up "brexit" is all i can say. look, trump said he would do this during the election campaign. the fact is that the european union do put a lot of barriers on american products and services coming into europe but i don't see peace talks happening between brussels and washington anytime soon to be frank. stuart: so it is heating up, it is not going to be over for a while and neither side at this point is blinking. that is the status as we see it right now? >> i think so, yes. stuart: i want to move on to italy and what is really economic chaos developing there. nigel, i'm not saying you are a populist, but you're a populist supporter. you have supported populists movements throughout europe. >> yes. stuart: listen to the italian populists are talking economic nonsense, absolute nonsense. guaranteed minimum income for all, lower retirement age. what is going on?
>> there is a bigger fundamental point on that. whether pushing debt up massively on massive basis, getting rid of pension reforms, whether that economically make sense to you or not, do people not in a country, have the right, democratically to choose a government with their policies? because this is the clash. the real argument here is not about economics. the real argument here is the italian people have elected this new government with these two parties commanding well over 50% of the vote and they're being told by unelected germans, you can't do this. so ultimately this is about democracy. i suspect that what we're going to see is a compromise in the next 48 hours. we will see a government formed. maybe to begin with they will rein in some of their excessive spending ambitions. you know democracy is very, very important. stuart: nigel, i take your point
entirely. this is a matter of principle at this point but if they do form a coalition government, a populist coalition government, surely nigel farage is not in favor of unlimited spending, lowering the retirement -- you can not be in favor of that? >> no. look, this stuff on retirement is mad. the same route "grease" went down. it makes no sense. if they instituted those policies, they would quickly start to find borrowing money on international markets very difficult indeed. particularly the european central bank as means of punishing populists stopped its quantitative easing buying program. so you know quite often realities of government are different than what is promised during a campaign but we are seeing a resurgence of italian national identity, and i promise you, this battle between the european commission and italy is only just beginning.
stuart: yes, i think you're absolutely right, nigel. it is an extraordinary story, the breakup of the european union. nigel farage, frequent guest on the program, a valued guest. nigel, thank you. >> thank you. stuart: next story, the obamas, yeah they signed a deal with netflix for original programing. netflix's chief, chief content executive actually, he says the shows will not have a political slant. sara fisher, "axios" media reporter is with us. are you buying that, no political slant from the obamas? >> one thing that to take into consideration netflix hire ad few left-leaning executives, valerie jarrett to be particular, his wife he said, worked for the obama administration. so they definitely have a left-leaning tie. it makes sense they don't want a political leaning in their actual content, they don't want to alienate viewers. their business model they need to grow as big and as fast as
possible. if they have one slant over another, it might hinder their growth. stuart: a leftist vision, a leftist slant, if you want to put it like that, would work outside of america. therefore, signing the obamas is pretty good move for netflix. the stock has gone up? >> i think it has gone up because they're sort of a celebrity powerhouse with the obamas doing the production work. but at the end of the day, even if they are a left-leaning audiences, more progressive audiences abroad, don't want to alienate other audiences abroad. that is a dance they have to do. they have brought on a left-leaning presidential couple. they have people from the administration that worked at the company. so there is a little bit of a, you know, hiring slant there. stuart: i find it fascinating. netflix with a left-leaning slant, i think that is the way it is. please listen to msnbc host chris hayes what he said about roseanne and trump voters. roll tape. >> roseanne barr in all other
bile-laden twitter glory speaks to a certain part of the president's base. it is the part that trump harnessed when he launched himself into conservative politics in the first place, with laser focus not on taxes, abortion, health care, on one issue. what did he do, that the racist conspiracy theories that the first black president was a muslim from kenya. stuart: you were listening what is your reaction? >> i think that might have been taking it a little too far. roseanne barr with horrible tweet should have gotten fired. i don't think connecting to the trump campaign is the necessarily way to be looking at it. the way to look at it, corporate america these days will not stand for racist comments. they will not stand for any sort of sexual harrassment or abusive work place behavior or just in a new era. when you look at what happened with roseanne barr, it's a little bit more representative of the new corporate culture than it is necessarily some sort of political movement. stuart: "axios" plays it
straight down the middle. i know you do. not one side or the other, not left-wing nor right-wing, but i'm somewhat embarrassed by america's media these days because their venom, and their contempt for the president is on constant and full display. do you share my feelings? >> i think it depend which outlet you're looking at and what audience they're playing to. a network like msnbc, outwardly liberal, yes they will have a very different take on the president's agenda and his policies. if it is a more right-leaning network they will have different take too. i think there is balance in america that is pretty healthy that we do have media outletses critical and -- stuart: zara, please, please, come on. overwhelming contempt for the president, from the vast majority of the media. there is only a few standouts? >> you know i will say this. there has been studies that people in mainstream media tend to be left-leaning you need to have higher education, barrier to entry is pretty high.
you're right understanding that a lot of mainstream maid yaw is left-leaning, i'm seeing movement, grassroots movement, where right-wing media is having moment. look at sinclair broadcasting group getting bigger. right-leaning, broadcaster. rise of right-wing blogs. there is starting to become more after balance between the two parties from the media perspective, that the right-wing is harnessing grassroots media, expanding their base. stuart: from my point of view it ain't in balance yet. sara, thanks for joining us. we debate this ad nauseum, appreciate it. thanks so much, sara. >> thank you. stuart: let's talk about sears. and their sales. challenged, shall we say. and by the way, they are planning to close i think another 72 stores. liz: yeah. you wonder if this is finally the year we could say this is the end of sears. they have had 26 straight quarters of revenues going down. last time they saw revenue increase was in 2011.
one alex partners, famous bankruptcy reorganization shop this, is the longest running corporate liquidation in history. so, how does it play out, break up of the assets, more stuff on amazon? eddie lampert runs or owns sears, turns it into a commercial real estate play where he gets rents and leases. stuart: how does it play out? we don't go to sears. stock is way down. new low of the day for the dow. president trump meeting at white house kim kardashian. talking prison reform. what does she want from the president on that issue? judge napolitano has an answer for us in the next hour. president trump stumping for marcia blackburn -- marsha blackburn urn earlier this week. "new york times" says only 1000 people showed up for the event. they got that totally wrong. congresswoman blackburn is here next. ♪
that the united states is producing more oil than ever before and that gives us a lot of leverage. take a listen. >> we're at 10.7 today. there is no reason why we can't produce over 11 million barrels a day, first time in 60 years we're exporting liquid natural gas. if we have the infrastructure in place, my gosh, we can be at 14 million barrels a day, never be held again hostage by anybody and control the board to a degree. imagine iran, if we subplant three million barrels a day which i think this country can, that is a lot of leverage overseas with russia and iran. this is unheard of in the history of this country. ♪ it can power your apps with public services without starting from scratch. it brings your business up to speed, doing more with systems you have in place. it can bring all your apps to life and run them within your data center.
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and today, our hospitals have some of the best patient safety records in the country. now, we're constructing new buildings that will define the future of piedmont and chubb is here, insuring our expansion. two million patients a year depend on us. and we depend on chubb. stuart: we're at session lows. yes, we are. we're down 221 points right now. that is 24,400. up 300 yesterday. first hour and a quarter this morning we're down 220. for the price of gold, rising ever so steadily. we're up two bucks at 1309. president trump as you know if you were watching this network was in nashville, tennessee, campaigning for tennessee congressman and senate candidate marsha blackburn. roll tape. >> we need marsha in the senate to continue the amazing progress and work we've done over the last year-and-a-half. stuart: by the way, there is
kind of a sidebar story here. "the new york times" reported that only 1000 people showed up for the event. they were way off. the reporter, for the "times," issued this correction. president trump is correct about his crowd last night. my estimate was way off, and we have corrected our story, to reflect the fire marshal's estimate of 5500 people. when we get it wrong we say so. joining us now, tennessee congressman and senate candidate, marsha blackburn herself. why do you think -- i don't know whether the "times" did this deliberately. i suspect they were looking for a potential negative, that mr. trump doesn't bring out the crowd. what do you think? >> oh, i think they are so wrong about this. and it doesn't matter, stu, if it was 5, 6, eight, 10, 12, or 20,000 people the point is that people camped out overnight to get into that arena. and to see president trump and to be there to cheer me on in this senate race, and we
appreciate that, and "new york times" continues to miss the story. the american people appreciate the agenda of donald trump. lower taxes are working. low unemployment is working. people like what he is doing on the national security front and so, yes, they show up to listen. if they're not there, they tune in. stuart: president trump during his speech that night, he referred to your competitor, that would be phil bredesen, referred to him as a nobody. well, that is not quite accurate because he was a very popular, i think former governor in the state of tennessee. so you got a fight on your hands. >> we know this is going to be a close race. that is what we've said all along. my opponent is someone who was a governor, and this is his fourth statewide race. it is my first statewide race. but we know that tennesseans want their tennessee values to work for them in washington, d.c. that is one of the things they
have always appreciated about my representation of them in congress. i take those tennessee values to d.c. to work. i'm home every weekend talking to people, talking to tennesseans and hearing about the things they want to talk about, which is securing that border, more conservative judges on the bench. lowering taxes, economic growth that you're seeing in tennessee is just really so significant. and people like the fact that the tax cuts are working. they want to see more of them. they know my opponent had said he would have voted against them. stuart: marsha, am i, i think i'm right in saying that tennessee is one of the biggest beneficiaries of the tax reform package, because i don't think you've got a state income tax in tennessee, do you? >> you do not. i led the fight against that state income tax back in the late '90s and early 2000s. won that fight.
webster, who has been on the set with you, was in nashville during that time. it was a four-year fight but the people of the state stood with me. we fought the state income tax. it is one of the reasons, your buddy and mine art laffer ended up moving to tennessee. because we have no state income tax and it is vibrant and is considered one of the best places in the country for business. stuart: well, marcia, art laffer was on the show on tuesday. he is a big fan of yours. he made his presence very much felt. marsha, wish you best of luck in your election. see you soon. >> thank you. bye-bye now. stuart: sure thing. we by the way hit another new low of the day. we're down 250 points on the dow industrials. coming up the producers of this program will let me talk about soccer. that would be world cup soccer. liz: what? stuart: i want to know why watch the world cup if the usa and the italians, both teams, they're not playing? fox analyst alexi lalas is here.
so, i have this recurring dream. i'm 85 years old in a job where i have to wear a giant hot dog suit. what? where's that coming from? i don't know. i started my 401k early, i diversified... i'm not a big spender. sounds like you're doing a lot. but i still feel like i'm not gonna have enough for retirement. like there's something else i should be doing. with the right conversation, you might find you're doing okay. so, no hot dog suit? not unless you want to. no. schedule a complimentary goal planning session today with td ameritrade®. stuart: can you believe the world cup starts in russia in just a couple weeks?
come on in, alexi lalas, former fox soccer commentator, not former. i'm sorry. >> don't worry. stuart: my age, my eyes -- >> here re go. stuart: you're going to be commentating on the world cup for fox in russia. you have an uphill struggle to some degree because team usa is not there. the italian team. >> you don't say? this is a world cup without the united states. i don't think there is a country in the world more able to handle a world cup without the host nation given the united states, with our incredible diversity and all our connections and relations we have with other cultures in other countries. i think what you will see this summer once again the united states will prove to ourselves and to the rest of the world we are a soccer-playing nation and incredible soccer culture, recognizes this biggest party of the world. while the team will not be in russia, doesn't mean the united states isn't going to russia to celebrate the greatest game.
stuart: i think you will get spectacular audiences. go to sports bar in manhattan, european cup or premier league, they're jam-packed with people. >> people love soccer in the united states. we don't have to apologize. we have unique, different version of our soccer culture we're proud of, we take ownership. we're also citizens of the world if you will when it comes to the game played all over the world. we're talking earlier, i have never been to russia. i'm a child of the '70s, '80s, growing up in the suburbs of detroit. war games and firefox, and red dawn, how i view russia. we're talking about russia. go there first time, really interesting, to see russia through the prism of this world cup. stuart: you have egypt plays. >> mosala. stuart: there is a draw. >> so usually, you obviously talk about stars the we'll talk about neymar and renaldo, he is playing over in england for
liverpool has been a breath of fresh air. scored a ton of goals and leading egypt to the world cup. he is legend what he has done with liverpool and leading egypt to the world cup. it will be interesting this summer how he fares with egypt. stuart: who do you think will wind the whole thing? >> if my money putting on germany, the defending champs. upper echelon is germany, explain, brazil. then you have argentinas, you have got your frances. may throw portugal in there like that. waiting to get to england, right? then there -- ashley: how far down? >> if it is your money put it on england. stuart: you got your frances, got your germanys. we hope to hear more of that. >> i can't wait. i was talking to your producers. i know how excited you are to talk about soccer. they won't let you talk about soccer. stuart: very true. back to the real world. >> are we down 200, last time i checked? tariffs. that will do it, right. ashley: because you're talking about soccer, the producers said. stuart: we're out of time.
we'll watch it. >> thanks, guys. stuart: low of the day, down 264. got it. now this, serious subject. kayleigh mcenany, rnc spokesperson, a preventative double mastectomy. how does she feel about president trump signing -- ... batteries from expired oil wells. mgx's new pilot plant aims to produce lithium-carbonate one hundred times faster than from conventional lithium brine. mgx minerals
>> steve: it is 11:00 on the east coast let's get right to the markets stocks are way down today after the white house announced new tariffs on steel and aluminum imports from europe , canada and mexico there's more to the story than just our tariffs on their products. they are retaliating. mexico says that it stands ready and about to issue its own tariffs on american products going there, and the uk and the europeans say they're about to do the same thing, so we've got a tit for tat situation, every single one of the dow 30 are down, and the dow industrials themselves down 256 points that's just over 1%. it's a down day. how about interest rates?
the benchmark there is the 10 year treasury yield 2.83% that not affecting the market. look at steel stocks, the direct beneficiary of these tariffs on imports, and they're all up, united steel, steel dynamics et cetera on the upside, nice gains there and the same story with aluminum stocks they benefit from these tariffs as well, only alcoa is down a tiny fraction. we're just getting the numbers in on how much oil we've got in storage in the united states. what's the number? liz: 3.62 million less barrels of oil in-stores expecting it to be down 525,000, so that's six times more, excuse me six times less barrels of oil in storage. >> so digging into those number s we're finding we've got a surprising build in the amount of gas o loan that we've got in storage okay? that's the energy situation as of now. joining us now, jerry bailey,
he's the president of petrotech and the former president of exxon arabian gulf jerry welcome to the program. >> thank you very much i'm glad to be here. >> if we've got energy dominance in america and i'm told we do how come opec and the russians still have a big influence on prices? >> well i have to take the exception to the word dominance. we've joined the big leagues now with russia and with saudi arabia and we're really coming on strong but the reason they get more attention is because we do our production or we're more localized or say here, we're using our oil for here, we don't export but about 2 million- barrels a day. we still import 5 million-barrel s a day, and we're producing 10 million- barrels a day, but russia and saudi arabia when people think oil, they think saudi arabia, so they still, and they do, they may not dominate in total volume, but they dominate in market recognition,
because they know that they can control pricing. they can change things overnight that we don't really do. >> ryan z inke, about an hour ago on this programmed to said that this year we're very likely to hit a production of 11 million-barrels of oil a day in america. highest production ever. isn't that energy dominance? i mean that's -- >> it's a lot. >> the largest in the world. >> yes, we will be the top three there with saudi and with russia and that's possible 11 million you wouldn't have thought that a few years ago, but we're already in the tens now, so 11 is very likely. all of this stuff coming up from the shale from the pearmain basin and even my company petro tech energy we're producing our little bit to make that number go big so i'm happy about that and oilsands as another way , but we can get to that number but our uses are going up too. we're taking a lot, so but look,
one more comment on that is that remember, saudi still can do their production at $10 a barrel or under. the u.s. is in the 20 to 30-type range, and russia is about, well they're in the high 20s, so we still, we lose out because the dominance means they can change prices. >> last one on the show last time you were here about a couple of weeks ago you said oil is going to hit $100 a barrel. repeat that, make your case and tell us when it hits a hundred bucks a barrel. >> well i said it would be $100 a barrel likely by the end of this year, but then -- >> do you take that back? >> i can hedge that statement on the basis of the turmoil and unrest that we still may see in the middle east particularly and so but i did say that i think 80 is very likely and very reasonable. the drop last week of $5, you know back in late march, early
april we dropped $3 so oil is like the stock market it has that saw tooth effect but it's still going upwards so we're going to have these down days look how it jumped back now we're on the 67 i think right now, so it's going to recover i think. >> we shall see, jerry. watch out. >> i'm watching. >> jerry bailey thanks for joining us. get back to the big board, we're down big time, 235 points now, fox news contributor scott martin joins us now. scott, this, i think, i'm pretty sure this is about trade. we imposed tariffs on steel and aluminum from europe, canada, mexico. mexico retaliates with tariffs of its own the europeans threaten to do that. this is a trade war. i think this is a big negative unless it goes away real quickly , what do you say? >> yes, i agree, stuart especially given the proximity of those two countries you mentioned in canada and mexico. now hopefully this isn't kim
kardashian's fault but regardless if you look at just where we are with nafta and some of the other things trump has mentioned with respect to the wall with mexico, the difference i will tell you versus these china talks, stuart, is that i think mexico and canada have a lot more to risk here than say we do versus the china relationship because look at this way we're 75% of mexico's exports as far as what we buy and over 60% of canada's exports as far as what we buy so this could be one of those trade wars that i guess to quote the president we actually could win this one over the long term. >> if we win the market goes up but if we lose it's a drag out fight. i don't think the market wins. can you comment on that? >> no, i agree. i think at least in the near term while things get sorted out nobody wins you're right about that and obviously the market is in a position where we've seen it in the last several days with italy and early march and certainly in february where the first reaction of the market is to sell but as we know, we've talked about this on this lovely show there are things you can do
if you're an investor at home with our client's money we started adding gold, you can buy exposure to gold prices and also as jerry was talking about in that prior segment we've also started adding crude oil exposure via amlp, which works on the pipelines and the transportation of oil & gas, that's a great way to hedge out some of your equity exposure. >> a couple of individual stock s i want to look at with you fiat chrysler may stop selling fiat in the u.s. they're focusing on jeeps and trucks. scott that means they're walking away from small cars in america. what do you say? >> walking away from small cars just as gas prices are heading north. these automakers i think are in a tough spot regardless whether it is gm, chrysler even tesla for some notions, so we've started really kind of divest and have been for some time away from the automakers just because there's a lot of uncertainty. there's a lot of reinventing a lot of these companies have to
do and therefore that's keep away from me. >> did you see that story about tesla, they fixed that braking problem by remote on the model 3 literally did a software download, no mechanic touched the cars and they fixed the braking problem. do you feel differently about tesla bearing that in mind? >> you know, nats that's a cool thing i'll tell you because one thing plaguing tesla in the past years ago or certainly somewhat last year is it would take a long time to get repairs donald you'd have to ship the car away to get it fixed so if they can find better ways to get the cars fixed that's great just elon musk you've got to get more cars off the line. >> i believe you're in chicago and sears, i always think of as a chicago company, was you know, scott they're closing another 72 stores and the same-store sales down 12%. how much longer can sears survive do you think? >> not much longer. i mean this company unfortunately along with some of its other retail counterparts,
stuart, j.p. penny is one out there that's somewhat chicago- lick too they're on life support so eventually they're going to get the ship righted in the sense they have to close more stores and get that retail footprint taken away but gosh if you look at amazon and some of those others wal-mart that has a good online presence it's almost too late for them to come back isn't it? >> you ask a question and i say yes it is too. all right scott thank you very much for joining us we'll see you again real soon promise. now this president trump signed the right to try bill into law. the bill gives terminally ill people access to experimental drugs that could potentially save or employee tend their lives. rnc spokeswoman kayleigh mcenany recently underwent a preventive double mastectomy and she's with us next to share her story, and her take on trump's "right to try" bill. >> ♪ ♪ [music playing] (vo) from day one,
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>>stuart: wal-mart is going to help its employees go to college employees could contribute $1 per day towards their education and wal-mart picks up the rest of the tab. workers can choose from three schools, university of florida, university of california, bell view university nebraska, they have the option of taking classes online. now wal-mart wants to retain staff, with a labor shortage they want to make that company very attractive that's why they're doing it. president trump signed a "right to try" bill into law giving terminally ill people access to experimental drugs. our next guest underwent a preventive double mastectomy earlier this month. that procedure means the likelihood of her developing breast cancer is now virtually zero. rnc spokesperson kayleigh mcenany is the lady in question and she joins us now. kayleigh? please tell us, i know you've shared your story.
would you share it with our viewers now publicly, please? >> absolutely stuart thanks for highlighting it. i had an 84% chance of breast cancer, eight women in my family who are plagued by the disease several who died in their 20s, my mom found out she had this gene and preventive removed her breasts bringing her chances to zero and 10 years later i followed in her brave footsteps and do the same thing. >>stuart: this was entirely prevented because of the likelihood of breast cancer in the future you took the action now to reduce it to virtually zero. >> that's right and it took me 10 years to make the decision, a long waiting period but now that prospect that black cloud is out from over me i feel very relieved and happy i've made the same decision as my mom. >>stuart: i want to congratulate you a, for going public and b for coming through it all with a smile on your face a truly wonderful thing to see kayleigh. >> thank you, stuart. thanks. >>stuart: now how do you feel about the "rye to try" law? >> oh, i'm very pumped about this, stuart because i had this gene, again preventive i've made
this decision but i crossed paths with women who have lost their hair, fighting for their lives, and the idea that there could be a drug on the horizon or something that could help them, but it's lingering an fda approval for more than a decade and these women can't get access to that drug or treatment that's a really scary prospect and this law changes that for women, for men, for the 1 million people facing terminal illness who will die every year they can now get access know those drugs and they won't linger in approval they can get them immediately. >>stuart: you know the media largely, not entirely but largely ignored the signing, by president trump yesterday, and ignored the whole story. i think that's appalling quite frankly because i think it's a major piece of legislation that gives hope to an enormous number of people. how do you feel about it? >> it's a big deal and look if president obama had signed this into law stuart it would be on the top of every news station, headlines on the cover of newspapers you'd hear about it. you don't hear about it because it's president trump but this is a very big deal for so many
people, 600,000 people who will die of cancer generally this year if there's a drug or treatment out there they can now get it because of this president it's a big big achievement and the media ignored it you're right. >>stuart: what casper ates me is this endless contempt that the media displays for our duly- elected president, and the way they cover some stories but not others, the others being which are favorable to president trump. you don't seem to be at all. you've always got a smile. >> [laughter] got to attack it with a smile stuart but it is frustrating when harvard studies so obviously unbiased study here in the first hundred days of this president is 80% negative and now apparently 90% negative according to a new study it's frustrating but i think the american people recognize it and they realize this media they're not giving this president a fair shake. >>stuart: do you remember you make i think you made your television debut with me didn't you? >> i did make it with you
stuart you gave me my first opportunity and here we are now. >>stuart: and by the way as i recall, we broke the news on this program that you had been accepted to harvard. >> that's right. my mom learned it from you, stuart. >>stuart: because i remember your mom always used to watch the show. >> oh, yes. >>stuart: kayleigh it's great to see you back and in such fine shape with a big smile we just love it. >> thanks so much stuart. stooshie thing we'll see you soon. promise. what's the price of gold doing when stocks are taking a dive? gold is up $1.70 that's all 13.08. what's bitcoin doing when stocks take a dive? bitcoin is up $180 at $7, 564. check this one out, facebook announcing plans to build a huge data center in eagle mountain, utah just south of salt lake but the facility is set to open in 2020 and it's expected to bring a couple hundred jobs, industrial jobs full time to the area. facebook is investing
$100 million in local infrastructure as well. facebook says it also plans to power the facility entirely with renewable energy. now, i want to alert you, we've got our latest reading on mortgage rates earlier this morning. the 30-year fix rate mortgage is now at 4.56%, down just a little from last week after a long run up. >> exactly. >>stuart: i want to check the big board again stocks reacting to the trump tariff news, we're all over it and we're down 1% that's 255 points. >> ♪ ♪ [ sigh ] not gonna happen.
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>>stuart: jamie dimon, jpmorgan guy best paid banking ceo, the wall street journal says he made 28.3 million last year up 4% from the year earlier so here are the top five, blackrock's larry fink, 27.7, morgan stanley 's james gorman, and lord blankfine, goldman sachs they all made significant money. singapore airlines will launch
the world's longest commercial flight from newark to singapore takes about 19 hours, non-stop by the way. that's about 9,500 miles and these flights begin in october. ashley: good news is it's quicker when you come back because of the prevailing winds it's only 18.5 on the way back. >>stuart: okay if you're in first class you've got a sleeping bed but in the back next to the bathroom -- ish good luck. >>stuart: warren buffett wanted to vast 3 billion in uber but the talks fell apart. he says he's a fan of uber's new ceo and in the past he's avoided technology companies he says they're out of his area of expertise but his interest in uber surely gives uber's ipo, when it comes a shot in the arm. tens of thousands of casino workers in vegas could be off the job at midnight tonight when the contract expires. the city's two largest resort operators, mgm and caesars could lose more than $10 million a day
combined if those workers do go on strike. president trump announcing this morning he'll pardon conservative author desousa who plead guilty to violating federal campaign laws in 2014. the president says he has been treated unfairly by the government. coming up, speaking of pardons kim kardashian visited the white house to make a case to the president on be half of a woman serving a life sentence for a first-time drug offense. kardashian whose been urging president to pardon 63 year old alice marie johnson spent more than two decades behind bars. we'll have more on that in a moment and dan henninger, wall street journal guy, his weekly piece is called the year politic s collapsed. though he's not talking 2018, stay with us, you'll want to hear this one.
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>>stuart: it's a down day, trade worries we imposed tariffs on imports of steel and aluminum from the europeans, the mexicans respond, it's a trade, well i'm going to call it a trade war and we're down 212 points. the dow is still positive for the month of may, however, we thought we'd point that out to you, 24, 455 is where we are. now of course look at the steel stocks and yes, they are up, because they will benefit from tariffs that we impose on import s. same story with aluminum stocks, they're mostly higher because we're imposing tariffs on imported aluminum. only alcoa, however is down just a fraction. big winner in the dow today, can you believe, general motors will you look at that that's a 10% gain its best day since 2010. why? softbank is investing over $2 billion in gm's self-driving unit. that's the way of the future, says gm. look at this headline from the
wall street journal. it reads, the year politics collapsed and it was written by our guest, dan henninger. dan? you're totally wrong. >> [laughter] >> we'll be right back. >>stuart: your story is that politics started to collapse as we know it in 1968. now, it was surely 2016, 2017, 2018 in the era of trump but i'll let you make your case. >> well speaking of trump, we are talking about 1968 because 2018 is the 50th anniversary of 1968 so it's time to look back. three interesting things happened in 1968. bill clinton graduated from georgetown university, george w. bush graduated from yale, and donald j. trump graduated from p enn. after that it was all downhill. >> [laughter] >>stuart: now that is a serious analysis of when politics fell
apart. >> the country was coming apart at the seems in 1968. we have never seen anything like it. you had the offense in january during the vietnam war, a big part of why the country came apart. lyndon johnson said he would not seek the democratic nomination, he was president, he withdrew. in april, martin luther king is assassinated in memphis. the students at columbia take over the office there until the police storm the building it was the beginning of campus protest. then, in june, robert f. kennedy running for the presidency, the democratic nomination is assassinated in los angeles a few months later the soviet unions and czechoslovakia, the democratic convention in chicago is typified by the police fighting a battle in the streets in grant park. finally, nixon defeats humphrey. in the middle of all of that, stuart, was the vietnam war, and in the middle of that was our medium television. vietnam has been called the living room war because it was
the first war broadcast into people's homes every night on the nightly news, and it became highly politicized as a result and the democrats at that time at the anti-war protest they turned totally against the vietnam war and that's when the party pushed further and further apart because the deputies made it a moral issue. if you're in favor of the vietnam war there was something morally surveillances about you. >>stuart: that is a very good case you make there but would you agree the division is now even more vicious these days? >> i would argue the trump divide that we see today had its roots in 1968. its been a long time coming. remember 10 years later after that the religious right forms in the late 1970s another divisive force in american politics and the two parties have simply never come closer together than they were back in the early 1960s when together they passed the civil rights
legislation. >>stuart: but we've never seen a president like donald trump not only in his style and demeanor he's not a politician which is how he got elected in the first place but what stu speaks of that's generated by this i don't think i can ever remember because i wasn't in america in 1968 but i find it hard to believe there could be any more vicious and one-sided frankly than it is right now. >> you had to be there. i mean, the anti-war demonstrations, people spitting at the police throwing things at them it was constant. it was relentless. richard nixon, i mean vilified constantly. >>stuart: the obvious question we are divided. we've been really divided for 50 years and it's not getting any better. >> nope. >>stuart: look to the future what could bring us together, what could do that? >> i think it would take both sides, and i'll go back to a point i just made, stuart, which is liberal progressives moral
try triumphant against conservatives one example black conservatives like my colleague jason riley. these people are just excluded from the conversation about civil rights today. liz: yeah. >> it's pointless and absurd because the left considers themselves morally superior to the very serious black conservatives. if they would simply find a way to talk about the problems in the inner cities whether conservatives or liberals then i think you could find a way forward but they won't do that. i think the burden is largely on the progressives. liz: and you know, what is happening now is sort of a detonation, an implosion of the conventional wisdom again as happened in 1968 and i think dan is right. there was this but people tame idiosyncratic on what they felt worked and what was best for country whereas right now it's different now we do have economic growth. we see people saying wait a second what policies work and what policies do not. we also see back then an overuse
of the word like comis, rendering that term meaningless and racism when you see media pundits using those terms that attacks on others i think the viewer out there knows how cliche and harmful it is to render those terms meaningless so i think it's a blow up of the conventional wisdom. >>stuart: there's one thing you missed out for 1968. paris. >> you were there right? >>stuart: i was there. battles in the street. >> you were rioting in 68. >>stuart: quiet on the set. >> [laughter] >>stuart: we're going to move on dan henninger that was a fine speech you made your case. >> listen to the music though from 1968. >>stuart: never better thanks, dan good stuff. now, president trump did meet with kim kardashian at the white house to talk about prison reform and push for a pardon for low-level drug offender who served more than 20 years in prison. judge napolitano you've heard
him. now his presence is even more felt. what do you make of this? >> well i could say the case but making a pardon for this lady she's been there for 20 years. >> she was sentenced to a life term pursuant to a statute that existed then and still exists now, for being a drug kingpin, for being at the center piece of the professional for profit distribution of cocaine and fentanyl in either tennessee or kentucky in the clintons. >>stuart: fentanyl back then? >> yes. >>stuart: 20 years ago? >> yes. so i'm not in favor of minimum mandatory sentencing which is the issue before the senate as we speak and to that in a moment but she was lawfully sentenced. the reason she got the heavy sentence is she had a partner. they cut a deal with the partner , testify against your partner you get half a sentence she does. the partners home free. they did the exact same thing. that's the way government works. we see that today. make a deal paul manafort.
testify against the president, you'll go free. that's the way prosecutors work. >>stuart: and kim kardashian got access to the president. >> what she did because it's a sympathetic case, today a harmless senior citizen, who if the president doesn't inter seed , will never see the light of day. kim kardashian, i have never met her, i believe is also arguing for a broader prison reform, of which there are two proposals before the senate. the one the house passed in my opinion is ridiculous. a study commissioned to do that. money here money there. that's the john kornan one. the chuck grassley one gets rid of mandatory sentences tells judges you don't have to put people in jail who are utterly harmless to society, just to make a point. that one will bring about real prison reform, and would only lock up those who are a danger to society. >>stuart: i'm with the grassley proposal. >> i am as well but you have two titan in the senate, chuck
grassley, the very powerful chair of the senate judiciary committee and neither will budge an inch and yet mitch mcconnell, washing his hands of it. this legislation that passed the house almost overwhelmingly so i don't know where it's going to go. >>stuart: i hope it passes eventually and the sooner the better. >> yes. >>stuart: we agree. >> yes we do agree. >>stuart: careful judge. >> and i think 68 had its roots in november 22, 1863 when kennedy was assassinated and lyndon johnson was unleashed upon the world. >>stuart: is this a history show >> [laughter] >>stuart: or a financial program i don't know. judge thank you very much indeed now this, harvey weinstein has been formerly indicted on rape and criminal sex act charges and the charges relate to alleged attacks on two women in new york weinstein's lawyers asking the court to dismiss the indictment because the allegations unsupported but that's happening now. another news item for you, secretary of state pompeo had a
steak dinner with north korea's top diplomat in new york city last night. the two men are continuing talks ahead of the possible summit between the president kim jong-un june 12. president trump said this morning he still hopes to have the summit but it's also possible that it won't happen. as he usually said, we'll have to wait and see. and he did say that. netflix has surpassed disney as the world's largest and most valuable media company. most valuable how about that? who would have thought. now take a look at microsoft it's closing in or it was earlier, it's a little way aways now closing in on $100 a share the company's market value is more valuable than google, again , who would have thought? ashley: look at the smile on your face. >>stuart: a wonderful company. >> earning its millions. [laughter] >>stuart: no comment. the media's trump-hating bias, it is on full display. their contempt for the president has been clear since day one. we are on that story, i'm hot on
welcome to holiday inn! thank you! ♪ ♪ wait, i have something for you! every stay is a special stay at holiday inn. save up to 15% when you book early at hollidayinn.com nicole: i'm nicole petallides with your fox business brief, travel companies and investors on wall street listen up, air b& b, maybe going public in 2019,
we will watch for this the ceo spoke at a conference in california. he said the company, airbnb will be ready to go public next year, though he's not sure it will and he wants to make sure it's a major benefit for the company and also said to change the ratio of the members on the team wants to add one woman, it's first to airbnb's board of directors two or three other independent members and you also have the former american express ceo on the team as well. we're watching some of the other travel companies, expedia and you can see them on the move for today, they did airbnb closed a private funding round in march that values the company 2017 a $31 billion. we'll watch for this one.
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tell your doctor about bleeding new or unexpected shortness of breath any planned surgery, and all medicines you take. if you recently had a heart attack, ask your doctor if brilinta is right for you. my heart is worth brilinta. if you can't afford your medication, astrazeneca may be able to help. >>stuart: as the market comes back a little we're only down 140 now, i want to move on to the latest about roseanne. white house press secretary sarah huckabee sanders criticiz ed the media over what she calls a double standard, when they criticized president trump. roll tape. >> the president's pointed to the hipocracy in the media saying that the most horrible things about this president and nobody addresses it, where was the apology to the white house staff for calling president and anyone associated with him a white supremacist, to christians around the world for joy calling
christianity a mental illness, and kathy griffin going on a rant against the president on the view after a photo showed her holding president trump's decapitated head. >>stuart: yeah, really look at this. where is my call of apology? you and abc have offended millions of people and they demand a response. how is brian ross doing he tank ed the market with an abc line yet no apology, double standard come on in lawrence jones this is right up your street you are the editor and chief at campusreform.org. there's no question in my mind that there is a double standard that the press, the media is largely totally contempt of our president, and i think it's a terrible thing. >> well let me say this, stuart there's no doubt what roseanne said that was wrong, but i think the problem comes in is like megan kelly tweeted today and she's no friend of the president
samantha b. just called the president's daughter the "c" word and there was no outrage about this. it seems to be that they literally don't have standards in media any more. they really don't care about the issue at hand. they care about who the person is that's being attacked and that's just not right. >>stuart: you know it's not just how the media covers a story. it's what they cover. case in point, yesterday, president trump signed into law very important legislation, " right to try." i thought that was breakthrough legislation and it was bipartisan but two networks ignored it completely and it was really demoted as a story. why? because it was favorable to president trump. they didn't want to cover it. >> exactly and this is going to save millions of people. i mean this should be real simple journalism, the cover a story that many americans have been begging for. it's not just this stuart. kim kardashian was at the white house yesterday talking about a big issue.
criminal justice reform this is something that the democrats claims they love, they want passed instead of covering or instead of saying the president is moving forward on this issue, despite attorney general that does not like this issue, jeff sessions, they decided to make headlines making fun of kim kardashian, this is the contempt that they have not only for the president of the united states, but the people that he is fighting for. i mean, this is going to benefit a lot of minorities instead of talking about race relations and things that the president has said in the past, talk about legislation that he's trying to implement to benefit those people that you say that he was alike. >>stuart: is that penetrating through to the african american community? is there an increasing realization that maybe trump is doing something good here? >> well i think when you look at the black men now supporting this president, stuart what they are saying is we are trying to fight for our families. now there won't be all these people that are vocally
supportive of the president and they're not going to but i guarantee you when they go in the voting booth and they out weigh, when they look at the democratic party and what they have promised for years but yet haven't delivered and then look at a president that is actually accomplishing things for black families they're going to look at the results not look at the rhetoric that the president is saying. now, like i said the president uses colorful language sometimes , and people should rightly be critical of him but at the end of the day, stuart, people care about results. things that are going to actually affect them and that's what you're seeing in the poling , brother. >>stuart: well said, brother, [laughter] you threw that right at me there i got it. i caught it. [laughter] lawrence thank you very much sir we appreciate you being here always. >> thank you. >>stuart: couple of stocks in the news. i'll show them to you. dollar stores okay? sales down, actually they fell short of expectations. also, dollar general, those both of those stocks are actually down on wall street as we speak.
we'll bring you that one another retail item. by the way, i am just looking at my monitor here. microsoft is $0.10 shy of $100 a share okay? president trump arriving in houston, there he is. he's going to meet with people effected by the santa fe high school shooting, just arrived. next, we have one of the people leading the charge for lower gas tax although the removal of the old gas tax in california. huge election issue there and we're on it. >> ♪ ♪ i have to tell you something incredible. capital one has partnered with hotels.com
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>>stuart: now you've just saw this president trump arriving in houston. he's going to meet with people affected by the santa fe high school shooting and we're getting this from our own blake burman, via the report on board air force one. wait for it, the president is considering pardoning or commuting the sentence of former
illinois governor rod blagojevich and martha stuart, we're just getting that from the ap poll reporter who had been on board air force one. isn't that something? considering rod blagojevich, martha stuart, considering pardons. now there's a news story for you liz: yes. >>stuart: our next guest is one of the people retired for lower gas tax in california wants the recent increase repealed joining us is chairman of the gas tax repeal initiative and he's a former city council member in san diego. carl great to see you again welcome back. >> thanks for having me and someone needs to tell president trump that the taxpayers out here in california desperately need pardons themselves because we're getting crushed by taxes. >>stuart: good one carl. look you're in charge of this ballot initiative to remove the gas tax that governor brown imposed last year. i take it a, you've got the signatures that were required is that correct? >> right we needed 584,000
signatures we submitted nearly a million signatures. >>stuart: got it okay. >> there's a record number and we're really confident we'll get a chance to vote down the gas tax increase this november. >>stuart: now i would imagine this is drawing support from all political sides, republicans, independents and democrats am i right? >> oh, absolutely think about this. the tax increase the gas tax and the car tax increase now gives us the highest gas tax in the nation. we had the second highest gas tax in the nation before the increase and a typical family of four will end up paying $779 more per year in car and gas tax levies under this latest increase, and so it's a crushing blow to working families. it doesn't matter if you're a republican, independent or democrat this is just wrong and the other issue, stuart is they keep saying the politicians keep promising to fix the roads when in fact they consistently engage in fraud.
they raid the road funds divert the money and the roads never actually get fixed. >>stuart: but carl, isn't this a plus the republicans because if people go to the polls to vote on this gas tax ballot initiative, and they pull the lever to say yes, repeal it, doesn't that bring in republican voters or turn people towards the republican party? >> well i think there's two things. first it does drive turnout of people who are opposed to taxes both republicans, independents and maybe some fiscally conservative democrats, but second of all, our polling shows that in candidate races where one candidate supports the repeal, the other candidate opposes a repeal, the toss-up voters break in favor of the candidate who supports the repeal, and that's nothing i actually am quite happy with that, because shouldn't we punish politicians who raise our taxes so i see this as a two-fer you get the repeal the gas tax and car tax and you also get to punish politicians in sacramento
who have been too extreme. >>stuart: do you happen to have any polls about the gas tax repeal? i simply can't imagine anybody saying oh, no i want to keep the gas tax. >> about the only people that want to keep the gas tax are sacramento politicians and their special interests that are getting a portion of the money. we see consistently by a two-to-one margin people want to repeal the gas tax. >>stuart: carl i've got to leave you to refer to president trump whose arrived in houston, texas, he came down the ramp from air force one, thank you very much. >> thank you much. >>stuart: just greeted by governor abbott who you saw just on the left-hand side. he's now greeting officials in texas. he will go on to speak about and talk to the people and the victims actually of the shooting there in texas. more to the point, we have been hearing from a reporter whose on board air force one with the president whose reporting that the president is considering
commuting or pardoning rod blagojevich, the former governor of illinois, who is now in prison, and martha stuart, who served a prison for lying to the fbi. ashley: rod blagojevich it's a 14 year sentence he got for a variety of convictions he's in a prison in colorado and don't forget he tried to sell his power as governor to fill the u.s. senate seat left vacant when barack obama became president, so the question you said earlier, stuart there's questions whether he could have legally have done that but the point being is he tried to do that and that's why he was convicted. liz: this >> he was impeached and removed from office for bribery. stuart: why would the president consider part donning him? >> and martha stewart. stuart: one doesn't know why. >> it is in discussion stages reportedly. stuart: endless flow of news, wilbur ross telling us there
would be imposed on imports of steel and aluminum from europe, from mexico, from canada. immediately or virtually immediately the mexicans responded show did of the europeans proposing punitive tariffs of their own on our products going there. what have we got on north korea? ashley: apparently donald trump telling reuters there is a very good chance, quote, unquote, denuclearization deal with north korea will require more than one meeting. he would like to see north korean denuclearization take place as quickly as practical. that will not happen in one deal according to the president. stuart: that is result of the state dinner in new york between secretary of state mike pompeo and kim yong chol, the north korean diplomat. >> there are three meetings about the north korean summit in june 12th. stuart: might be more than one summit. north korea is in the news.
possible pardons for rod blagojevich and martha stewart. >> just your average day. stuart: just your average day. the dow is down 164 points, 24,000 five. our time is up. big day for you, neil. neil: president arriving what will be a closed-door meeting with parents, friends, family members of those santa fe victims and santa fe students in general in santa fe, texas. we'll keep you posted on that. keep you posted on the fallout from the president going ahead doubling down on tariffs that affect many more countries than china fact the real pinch will be felt on europe and could be affected in canada and mexico. for those markets it is dicey for products that come out of those countries, it is dicey. for products we have go into those countries is is dicey save